Mr Cooper Group Inc (COOP)

[WaS]

NEW MESSAGE FROM BOPFAN! Like I said the other day, lets be realistic here and forget this fraudulent conveyance stuff. It was a non-issue here a week ago when we were waiting on the 4 billion and NOls and hoping for a buyout.

As some of us have tried to point out, if the FDIC was subject to fraudulent conveyance, it wouldn't have taken a risk in doing what they did. They knew full well they are exempt from such charges, thanks to extraordinary powers granted to it by the Congress back in the 1950s.

These people have no scruples. But they've built a legal system that's very one sided in their favor, specifically for times like these.

PLEASE MAKE SURE EVERYONE READS THIS POST by Bopfan!

http://messages.finance.yahoo.com/Stocks_(A_to_Z)/Stocks_W/threadview?m=te&bn=86316&tid=58012&mid=58012&tof=1&frt=2#58012

Dragon:

I think you are right about the fraudulent conveyance point, and I would rather be wrong than provide erroneous information. It seems I misinterpreted a statute I read some time ago, and this statute DIRECTLY bears on WMI's ability to go after the FDIC/OTS.

The statute is 12 U.S.C. 1828(u) and I misinterpreted to mean that constructively fraudulent conveyance claims were authorized, but on reading it today I see that they are specifically excluded. If I am interpreting it correctly now, WMI must show the FDIC acted with actual intent to hinder, delay, and defraud WMI's creditors, and I don't know if it can prove this. I'm moving this up on the board so people can evaluate this reading in light of everything else I've written on the subject.